The finance expert at cryptocurrency project Hedge is concerned investors are headed towards a scenario reminiscent of the 1990s DotCom bubble.

Mr Dekleva theorised bitcoin will face several more years of turbulence before the token stabilises as a legitimate commodity.

The Switzerland-based analyst said: “In my opinion, it will be at least 10 years before we see stability”.

This could be further hindered by intense Government regulation from the likes of China, Mr Dekleva added.

But there is still a good chance that towards the end of that decade, digital currencies as a whole will become more widely accepted.

Related articles

By cutting out the thousands of lesser known tokens that have failed to carve out a portion of the crypto market, the leading virtual currencies could strengthen.

These are coins with diminishing value, such as dentacoin, which was created to only serve as a payment method for dentists. As of 12.39pm on Wednesday February 14 the token is only worth just over $0.001.

And in time Mr Dekleva thinks that even hardline nations such as China will have no choice but to allow bitcoin operate within its structures or risk losing out on the benefits provided by the token.

Mr Dekleva said: “In the short-term, falls have been driven by emotion and in many cases disinformation – a small rumour can have a big impact.

“A lot of new projects have a stop-start phase and this is to be expected, but it is certainly not something that is normal is a traditional market place.